Canadian aviation giant Bombardier announced on Wednesday it was cutting more than 10 per cent of its workforce as the company undergoes major restructuring through next year.
The 7,000-job reduction of the global workforce ‘will be partially offset by hiring in certain growth areas,’ Bombardier said as it released financial results. Bombardier also announced it has signed a $3.8 billion deal with Air Canada to buy 45 CS300 jets, with options to purchase another 30 planes. Deliveries of the all-new aircraft will begin in 2019.
“With the signing of Air Canada for the leading-edge CS300 aircraft, we add a major international airline customer based in North America to complement our orders in both Europe and Asia,” Bombardier president and chief executive Alain Bellemare said in a statement. The company said it posted revenues of $18.2 billion last year, a 9.6 per cent drop from the year before. Bombardier started off building snowmobiles in 1942 and grew into a multinational with rail and aircraft divisions.